Why did mass rise sharply (the reason for the continuous sharp decline of mass coins)

08/04/2023 10:50 • Metaverse & Beyond • 47 views

Why mass has skyrocketed Editor’s note: This article is from Babbitt Information (ID: bitcoin8btc), authored by Kyle, and published under authorization by Planet Daily During the ICO boom in 2017, a new project – Mass – was discovered to be on the rise, and this token is now worth $100. However, recently, this project called “MASS Token Economics” has sparked interest in the project. According to Messari’s data statistics, as of the time of publication, about 30 different projects have been launched in the MASS token trading market, and over 300 participants have started liquidity mining and pledging. Therefore, it can be foreseen that this round of bull market is about to come. At present, the total circulation of MASS has exceeded 1 billion pieces So why pay attention to MASS? Can it have such an impact? The answer is what MASS is. Because it is a smart contract based on the Ethereum blockchain. Create a new monetary system in this way. All assets in the MASS system are held by their owners. Investors will receive rewards when they own a hard drive and store it in it. If the hard drive is used for savings or interest payments, the funds will enter the repository and be sent to the corresponding wallet address. Due to insufficient financial support, the prices of these tokens are almost unstable and may even fall In addition, MASS has been growing since January 2018. At the beginning of 2020, MASS prices reached a historic high of $15 per unit. However, by the end of May, as the MASS network became increasingly secure and user experience continued to improve, MASS experienced a significant increase. As of the time of writing this article, its daily average transaction volume reached $15 billion The reason why MASS has seen such a significant increase is because its governance model is very simple, which determines how to allocate it to everyone through community voting Since July this year, there have been continuous changes in the governance model of DAO, but the problem is that no fundamental changes have occurred. For example, in the voting process in mid June 2020, only 20% of people supported increasing MASS supply. And this summer, about 30% of users opposed reducing the proportion in circulation, leading to market pressure To address one of the biggest reasons for this issue, MASS has adopted mechanisms similar to Uniswap and DEX, allowing people to purchase various tokens using MASS tokens At the same time, the Maker Foundation is also launching a new agreement called “MKR Tokens” to provide liquidity mining. This platform allows developers to directly integrate with other DeFi applications and attract them by charging liquidity providers, thereby making their tokens more effectively locked in the liquidity pool

According to MakerDAO,

The reason for the continuous sharp drop of mass coins

According to Coindesk analysis, in recent days, in the case of continuous bearish Cryptocurrency market, the surge of MASS (a synthetic asset) in recent days may be related to the recent sharp decline in prices. It is reported that on Tuesday, the price of MASS briefly rose to a high of $4.88; But it fell back to around $3.68 this morning. Technically speaking, MASS, like other ERC-20 tokens, has high volatility, making it difficult for it to experience a large-scale market rebound, but this situation may still change.

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Why did mass rise sharply (the reason for the continuous sharp decline of mass coins)

The reason for the continuous sharp drop of mass coins

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